Stock Exchange Automation: 1st Edition (Paperback) book cover

Stock Exchange Automation

1st Edition

By Jamal Munshi

Routledge

100 pages

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Paperback: 9781138563759
pub: 2019-05-30
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Hardback: 9781138563742
pub: 2017-11-30
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eBook (VitalSource) : 9781315121925
pub: 2017-11-30
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Description

Originally published in 1994, Stock Exchange Automation addresses the pivotal role played by capital markets in the market economics. Capital markets are an essential component of the free market system. The book argues that the capital markets function as an allocator of investable funds among competing uses. The movement toward automated markets requires that we understand how automation changes market behaviour. The book also examines the concept of market microstructure theory, and the implication that some forms of automation should affect prices. Theories of price formation in the specialist based trading system hypothesise that the trading mechanism induces short term price volatility.

Table of Contents

1. An Overview of Capital Markets and the Nature of this Investigation

2. Market Microstructure and the Impact of Information Technology: Previous Research

3. The Empirical Test

4. Data Analysis and Results

5. Summary and Conclusions

Bibliography

About the Series

Routledge Library Editions: Financial Markets

The volumes in this set, originally published between 1970 and 1996, draw together research by leading academics in the area of economic and financial markets, and provide a rigorous examination of related key issues. The volumes examine the stock exchange, capital cities as financial centres, international capital, the financial system, bond duration, security market indices and artificial intelligence applications on Wall Street, whilst also exploring the general principles and practices of financial markets in various countries. This set will be of particular interest to students of economics and finance respectively.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS027000
BUSINESS & ECONOMICS / Finance
BUS069000
BUSINESS & ECONOMICS / Economics / General